'Fail to prepare then prepare to fail'
That old adage which applies to most things in life but where freelancing is concerned it something which rings particularly true.
Bill Morrow, found of the investor network Angels Den believes that anyone who is going to work for themselves needs to devise a business plan that is realistic even if the task itself feels like a chore.
“Passion and drive make an entrepreneur. The very last thing you want to do is to write a business plan but it’s an important process," he said.
Mr Morrow's comments certainly chime with Guy Rigby, head of entrepreneurs at advisory firm Smith & Williamson.
"Over the years, I have witnessed many examples of potentially great ideas falling by the wayside through the lack of a coherent plan or roadmap," Mr Rigby stated.
"I have seen businesses start up and spend significant sums, only to find that insufficient research had been carried out and their business model was fundamentally flawed."
The solution is simple; sit down and plan. This includes working out who to use for your accountancy needs right down to where to order pens from.
